Union Budget 2012-2013 Highlights: Approach to the Budget

  • For Indian economy, recovery was interrupted this year due to intensification of debt crises in Euro zone, political turmoil in Middle East, rise in crude oil price and earthquake in Japan.
  • GDP is estimated to grow by 6.9 per cent in 2011-12, after having grown at 8.4 per cent in preceding two years.
  • India however remains front runner in economic growth in any cross-country comparison.
  • Monetary and fiscal policy response for better part of past 2 years aimed at taming domestic inflationary pressure.
  • Growth moderated and fiscal balance deteriorated due to tight monetary policy and expanded outlays.
  • Indicators suggest that economy is turning around as core sectors and manufacturing show signs of recovery.
  • At this juncture, it is necessary to take hard decision to improve macroeconomic environment and strengthen domestic growth drivers.
  • Twelfth Five Year Plan to be launched with the aim of “faster, sustainable and more inclusive growth”. Five objectives identified to be addressed effectively in ensuing fiscal year.
  • If India can build on its economic strength, it can be a source of stability for world economy and a safe destination for restless global capital.
Last Update Friday 16th March 2012     

Read All

Write Comments

About Us

IASPASSION is all about success in Civil Services Examination. With an eye on coveted Indian Administrative Service aspiring youngsters chase their dreams and give their best to achieve success.
We are passionately working on making their journey uncomplicated and enjoyable and our mission is to dispel the myths and wrong notions that surround this big examination.
It is our continuous endeavor to bring in relevant information and inspiring stories that instill confidence and help you persevere as it is a fierce competition that sometimes requires just sticking to the GOAL.

 

The content on this site is IPR property of IASPassion.com and any reproduction of the same, in part or as a whole, will call for legal action under copyright act.

© IASPassion 20018 ---- 2020

IASPassion.com ...Career